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China sets GDP growth target for 2021 at 'over 6%' Updated: 2021-03-05 16:40:26 KST

China has set its GDP growth target for this year at over 6 percent.
The announcement came on Friday, during a government work report delivered by Chinese Premier Li Keqiang , at the 13th National People's Congress.

"The main projected targets for development this year are as follows: GDP growth of over 6 percent, over 11 million new urban jobs, a surveyed urban unemployment rate of around 5.5 percent, a Consumer Price Index increase of around 3 percent, and steady increases in both the volume and quality of imports and exports."

The announcement comes as the country sees economic activities recover from the COVID-19 pandemic.
China was the only major economy to expand last year, reporting a 2.3 percent growth.
It conventionally announces an official economic growth target every year but skipped the practice last year due to economic uncertainty from the pandemic.
Li also said China expects its budget deficit this year to be around 3.2 percent of its GDP, and said the country plans to cut energy consumption by 3% relative to GDP.
China's budget report released on Friday also showed a 6.8 percent rise in military spending this year, to roughly 210 billion U.S. dollars.
This is slightly higher than the 6.6 percent hike last year.
While Li maintained an optimistic tone, he also noted that uncertainty remains due to the pandemic.

"As the coronavirus continues to spread around the world, instability and uncertainty are mounting on the international landscape, and the global economy continues to face grave challenges."

Li also expressed other concerns including impediments to consumer spending and the need for investment to be sustainable.
Kim Jae-hee, Arirang News.
Reporter : jhee@arirang.com
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